✓ Official source SOL
Fidelity research arm says Solana has gone two years without a major outage, but flags stake and hosting concentration
Summary
Fidelity’s Center for Applied Technology (FCAT) published “The State of Solana: Network Health and Resilience” on Oct. 16, a report by Mia Galvin and Kevin Kelly that concludes Solana has made significant progress across resilience, economic security and performance, according to the report and Cointelegraph.
FCAT says Solana has operated for more than two years without a major mainnet outage, and that validator vote success averaged about 99.7% during 2026.
The report flags concentration: as of Q3 2026, about 20 validator identities together controlled more than one-third of active stake, the threshold at which a coordinated group could block finality, and roughly 40% of stake was located in Frankfurt and Amsterdam.
It also says an October 2026 snapshot put a single hosting network at about 29% of stake, above the Solana Foundation Delegation Program’s 25% ceiling, and that about 63% of active stake ran Jito configurations and 26% Harmonic, most of them still tied to the Agave codebase.
FCAT, which says its opinions are the authors’ and not necessarily Fidelity Investments’, called the broader trajectory positive, citing Firedancer, Mithril, the Alpenglow upgrade and shorter slot times, while saying the next phase will test whether those gains come at the expense of decentralization or security.
Key facts
- FCAT says tokenized real-world assets on Solana grew roughly fourfold in a year, from about $1 billion to about $4.4 billion as of October 2026, and that Solana’s $16 billion stablecoin supply processed more than $2 trillion in volume in Q1 2026.
- FCAT says around 8% of SOL was held by ETFs and digital asset treasuries as of October 2026.
- In August 2026 a large operator’s routing failure knocked about 90 validators offline for 33 minutes; FCAT says the affected stake was roughly 4.5 percentage points below the one-third threshold that would have halted finality.
- FCAT estimates that acquiring one-third of active stake would represent about $15 billion in market value at current prices, but says this is a measure of theoretical economic security, not a literal attack budget.
- In a separate Nakamoto-coefficient analysis, FCAT says the one-third threshold was concentrated across about 18 validators, two countries, two hosting networks (ASNs) and two base-client implementations as of Q3 2026.
- Cointelegraph noted that Solana cut its slot time to 350 milliseconds in August, and that the Solana Foundation has shared plans to reduce it to 200 milliseconds.